Form 4: Saba Capital Reduces Stake in Nuveen New Jersey Quality Municipal Income Fund

Saba Capital Management sold 41,193 shares of Nuveen New Jersey Quality Municipal Income Fund (NXJ) at $12.2 per share on February 5, 2025, reducing their holdings but remaining a 10% owner.

Summary

• On February 5, 2025, Saba Capital Management, L.P. sold 41,193 shares of Common Stock in Nuveen New Jersey Quality Municipal Income Fund (NXJ) at a price of $12.2 per share.
• Following the transaction, Saba Capital Management, L.P. indirectly owns 4,747,785 shares of NXJ.
• Saba Capital Management, L.P. remains a 10% owner of the issuer.
• Boaz Weinstein, also listed as a reporting person, is a director and 10% owner.

Sentiment

Score: 5

Explanation: The document simply reports a transaction. It's neutral in sentiment as it doesn't express any opinion on the company's prospects.

Industry Context

This transaction reflects portfolio adjustments by a significant shareholder in a closed-end municipal bond fund. Such transactions are common and can be driven by various factors, including investment strategy changes, liquidity needs, or views on the fund's future performance.

Stakeholder Impact

• The sale of shares could have a minor impact on the fund's share price, although the relatively small number of shares sold compared to the total outstanding suggests the impact would be limited.
• The continued significant ownership by Saba Capital Management indicates ongoing interest in the fund.

Key Dates

Keywords

Nuveen New Jersey Quality Municipal Income Fund, NXJ, Saba Capital Management, share sale, Form 4, beneficial ownership, municipal bond fund